Unemployment unexpectedly falls to 10% in November

The Bureau of Labor Statistics reported today that the unemployment rate fell to 10.0% in November, the biggest decline in three years. Only 11,000 jobs were lost last month, surprising many economists.

Let’s breakdown the numbers:

The unemployment rate for high school drop outs was 15.0%.

4.9% of college graduates were unemployed.

The jobless rate for high school graduates was 10.4%.

10.5% of men 20 and over were unemployed.

Women 20 and over had an unemployment rate of 7.9%.

26.7% of 16 to 19 years were unemployed.

Jobless rate amongst whites was 9.3%.

15.6% of blacks were jobless.

Of all the groups listed above, only the unemployment rate of college graduates increased from October, up from 4.7%. However, college graduates still enjoyed the lowest unemployment rate of the listed groups.